1st Source (SRCE) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

1st Source

NasdaqGS•Financial Services•Banks - Regional

$85.81-0.57(-0.01%)Pre-market

Market Cap

$2.11B

P/E

11.8x

P/S

3.4x

P/B

1.6x

1st Source Corporation operates as the bank holding company for 1st Source Bank that provides commercial and consumer banking services, trust and wealth advisory services, and insurance products to individual and business clients in the United States. The company's consumer banking services, which include checking and savings accounts; certificates of deposit; health savings and individual retirement accounts; online and mobile banking products; consumer loans, real estate mortgage loans, and home equity lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards. It also provides commercial, small business, agricultural, and real estate loans for financing of industrial and commercial properties, equipment, inventories, accounts receivables, acquisition, and general corporate purposes; and commercial leasing, treasury management, payment services, Fedwires, ACH and merchant services, and retirement planning services, as well as construction and permanent loans and tax equity investments for community solar, commercial and industrial, small utility scale, university, and municipal projects. In addition, the company offers trust, investment, agency, and custodial services for individual, estate and trust, corporate, and not-for-profit customers, as well as employee benefit plans and charitable foundations. Further, it provides equipment loan and lease products for construction equipment, aircraft, autos and light trucks, and medium and heavy-duty trucks; and financing services for construction equipment, new and pre-owned private and cargo aircraft, and various vehicle types for fleet purposes. Additionally, it offers property, casualty, individual and group health, and life insurance products and services for individuals and businesses; and owns and manages available-for-sale investment securities. 1st Source Corporation was founded in 1863 and is headquartered in South Bend, Indiana.

How this company scores

ExcellentMetricSide Score: 85/100

Strongest: Cash & Earnings Quality (25/25); weakest: Balance Sheet & Red Flags (18/25).

Profitability23/25

Growth19/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowStrong marginsRising earningsLow leverage

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 11.8x5y range 8.1x – 11.8x

Currently near its 20-quarter median.

P/S · 3.4x5y range 2.1x – 3.4x

Currently above its 20-quarter median.

P/B · 1.6x5y range 1.1x – 1.6x

Price & Volume

Market Cap $2.11B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $613.76M
Q. Revenue: $158.00M
TTM EBITDA: $238.73M
TTM Op. Income: $230.67M
Q. Op. Income: $64.16M
TTM Net Income: $178.18M
Q. Net Income: $49.54M
EPS: $2.03
Shares Out.: $24.08M

$613.76M in TTM revenue grew 3.8% YoY, reaching $158.00M last quarter. TTM EBITDA of $238.73M and TTM operating income of $230.67M show growth is flowing through to the bottom line. TTM net income of $178.18M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 41.5%
Op. Margin: 40.6%
Net Margin: 31.4%

Op. margin of 40.6% is up 4.6% YoY — cost efficiency is improving. Net margin at 31.4% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 11.8x
P/S Ratio: 3.4x
P/B Ratio: 1.6x

At 11.8x P/E, the stock trades below typical market levels. P/S of 3.4x and P/B of 1.6x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 3 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $9.34B
Cash: $104.80M
Long-Term Debt: $58.76M
Book Value: $1.32B
D/E Ratio: 0.0
Debt/EBITDA: 0.9

With $9.34B in assets and $58.76M in long-term debt, D/E is 0.0and book value is $1.32B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 7 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $71.08M
TTM Free Cash Flow: $230.00M
FCF Margin: 37.5%
FCF / Net Income: 1.3

TTM FCF of $230.00M on $71.08M in operating cash flow. The FCF / Net Income ratio of 1.3x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.